President Ferdinand Marcos Jr. said the Philippines was looking for other ways to explore for oil and gas in the West Philippine Sea, admitting that talks on joint exploration with China have reached a stalemate. | NCorralesINQ /PDI
“What really happened there is what? Because China claims it as theirs, but it’s actually ours,” Mr. Marcos noted.
According to the President, the Philippines has been insisting that “the West Philippine Sea is ours and our law should be followed. But the Chinese are saying, ‘no that is ours, that is why we have to follow Chinese [laws].” In 2019, then President Rodrigo Duterte had claimed that Chinese President Xi Jinping had offered the Philippines a controlling stake in a proposed joint energy venture in the West Philippine Sea if it would set aside an international arbitral ruling award that went against China.
Businessman Manuel V. Pangilinan’s oil and gas company PXP Energy Corp. holds a 50-percent interest in Service Contract 75, while its London-listed unit Forum Energy has a 70 percent participating interest in SC 72, two permits covering exploration in offshore northwest Palawan.
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